What is the difference between advice, information only and a personal recommendation?
Amongst other things the Finalised Guidance document FG15_1 ‘Retail investment advice: Clarifying the boundaries and exploring the barriers to market development’ looked to explain the differences.
Steve Bailey (ATEB director) recently undertook a critical and detailed examination of the paper for an article compiled for Adviser Business Review.
The article can be accessed here.
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It’s an important read. Firms looking at developing other distribution channels will need to be very careful in their approach. Innovation can create some excellent customer outcomes with the right level of investment and expertise, but beware, because there are some banana skins.
If you are in doubt please refer to your ATEB consultant or contact us here.
March is almost here and Spring is in the air. So probably the last thing you are thinking about is whether you and your firm are ready for the Senior Managers and Certification Regime? However, the deadline for full implementation is 31 March 2021, deferred from 9 December 2020, and only a matter of […]
We have received the following from the FCA; “On Tuesday 23 February, we published guidance for firms on the fair treatment of vulnerable customers. Protecting vulnerable consumers is a key focus for the FCA and is more important than ever due to the impact of coronavirus (Covid-19). Our Guidance on the fair treatment of vulnerable […]
Consultation on increasing the NMPA to age 57 On 10 February 2021, and without much in the way of publicity, HM Treasury published a consultation paper entitled ‘Increasing the normal minimum pension age: consultation on implementation’. Through this consultation, the government has reconfirmed its intention that the normal minimum pension age (NMPA) will rise to […]
Way back in December 2019, the FCA published PS19/29 – Making Transfers Simpler. The policy statement and accompanying rules were the outcome of consultation around how to make the platform market more competitive. The FCA believed a key step in achieving that was to address the finding that consumers often found it difficult to move […]
Publication of Directory Persons data
Michael Senior Compliance 2021, Directory, FCA, Register
Another March reminder! Solo-regulated firms must submit their Directory Persons data via Connect by 31 March 2021. Submissions of 10 persons or more using the multiple upload functionality must be done between 11 January and 18 March to ensure submissions are processed ahead of the deadline. A failure to submit required data in time would be a […]